Insurance Giant AXA Switzerland Accepts Bitcoin For Payment

Leading insurance company AXA Switzerland now accepts bitcoin for payments.

Announced last Thursday, the bitcoin payment can be used for non-life insurance  products ONLY. Life insurance products are excluded due to regulatory reasons.

Payment will be facilitated by crypto provider Bitcoin Suisse by converting the BTC into Swiss franc for AXA.

The company has stated that it does not hold bitcoin in its balance sheet.

The insurance company further states it will not  charge fee on Bitcoin payments but Bitcoin Suisse will charge 1.75% for the currency exchange and transaction cost fee.

The acceptance of bitcoin, the only allowed cryptocurrency as of the moment, for payment is a response of the company to their users clamoring for alternative payments option.

#SmartCrypto